Wednesday, 1 February 2012

Business courses (2)/Cursuri engleza de afaceri

I have introduced aspects about my business courses in a previous article here.
All my courses are focused mainly on conversation due to the fact that the spoken form is the essence of any language. Now and then during my business and banking modules I have to also introduce some theoretical approaches in order to make the connections between concepts.

Some of the concepts that I usually introduce when presenting a company are the ones that can influence its evolution on the macroeconomic stage, some of which are the inflation and the unemployment. One of the most interesting themes for a talk on macroeconomics indicators would be to asses and comment upon the Philips curve. It states that there is an indirect correlation between the rate of inflation and the unemployment rate. In other words, the higher the rate of inflation, the lower the unemployment rate and vice versa.
According to Eurostat, in Romania, the unemployment rate in December was 7.0% and the inflation rate was 3.3% (the annual rate was 5.8%). Taking into account that the unemployment rate of ~5% is the rate that no economy can escape because it includes the natural changes on the work force, 7.0% is a low number. The inflation rate is also rather low. 
I cannot seem to find the connection. Do you?

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